The Obama Economy WSJ.com
Intro:"How trillions in fiscal and monetary stimulus produced a 1.6% recovery."
"So two months before an election, and 19 months after the mother of all spending programs, President Obama said yesterday he's rolling out one more plan to stimulate the economy. We'll discuss the details when they're released, but the effort itself is a tacit admission that his earlier proposals have flopped. As the autumn economic debate gets underway, it's important to understand how and why we got here."
And further I could not say this any better or communicate with you on any higher level
"To put it another way, the real roots of Mr. Obama's economic problems are intellectual and political. The Administration rejected marginal-rate tax cuts that worked in the 1960s and 1980s because they would have helped the rich, in favor of a Keynesian spending binge that has stimulated little except government. More broadly, Democrats purposely used the recession as a political opening to redistribute income, reverse the free-market reforms of the Reagan era, and put government at the commanding heights of economic decision-making."
Friends, Gov has all the answers, and with this kind of thinking those connected to gov and gov spending especially the military benefit, the private economy has been drained like a corpse sucked by Dracula, then picked clean by buzzards.
As soon as the politically popular (but ineffective) vote getting cash for clunkers and home buyers credits expired so did demand, and as explained ONLY brought FORWARD DEMAND, thisis why stimulus programs do not usually have LASTING EFFECTS....is not a long term solution.
ALL the claims by current adm of what their programs will accomplish, are just hot air wafting into thin air....like vapor.....and we are left some $800 Billion stimulus wise and another
$2 Trillion of worthless paper sucked up by the FED more than DOUBLING their balance sheet and the unemployment rate has narry been effected.....so we should just do more?
ANYTHING Obama does now comes 2 months BEFORE election time and will be targeted more for votes, less for helpful effects.
Yes Obama was handed a LOUSY card hand, which he decided to bluff and make it worse....a losing hand indeed.
"Let NO CRISIS GO UNUSED" and in meantime the helpless caught in middle of the worst economy since the Grat Depression can do nothing more than look on and hope but will mostly get speaches and catch phrases from the many CLUELESS.
Duratek
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THIS IS THE ESSENTIAL MESSAGE AND TRUTH
"Which brings us to another major cause of the Obama malaise. When it took office in 2009, many of us advised the Administration to focus on nurturing the recovery first and postponing social-policy priorities that would only add more economic uncertainty. All the more so given this recession's unusual financial roots.
Instead, Democrats embarked on the most sweeping expansion of government since the 1960s, imposing national health care, rewriting financial laws from top to bottom, attempting to re-regulate the telecom industry, and imposing vast new costs on energy, among many other proposals. Not to stop there, in January it plans to impose a huge new tax increase on "the wealthy," which in practice means on the most profitable small businesses.
Central to Mr. Obama's political strategy for passing these priorities has been trashing business and bankers as greedy profiteers. His Administration has denounced or held up as political or legal targets the Chrysler bond holders, Wall Street bonuses, Goldman Sachs, health-insurer profits, carbon energy investors, and anyone else who has dared to oppose any of its plans to "transform" U.S. society.
Only yesterday at a Labor Day event in Milwaukee, Mr. Obama was at it again, declaring that "anyone who thinks we can move this economy forward with a few doing well at the top, hoping it'll trickle down to working folks running faster and faster just to keep up—they just haven't studied our history. We didn't become the most prosperous country in the world by rewarding greed and recklessness."
Whatever else one can say about such rhetoric, it is not the way to restore business confidence or turn a fragile recovery into a durable expansion. It has only spread fear and even greater uncertainty."
NO WAY to refute that
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